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  1. M

    cleaning company corp type

    You're welcome :) Let me know if you need help with the paperwork. My business helps others to get set up in all 50 states, plus we offer bookkeeping, accounting and tax services, and general business advice/assistance. Megan H
  2. M

    cleaning company corp type

    Hi Felipe, The answer depends on a couple of things, most notably your income. If you expect to earn $300k+, then a C Corporation, or an LLC that elects C Corp taxation is a good bet. If you expect to take home less than $300k per year, an S Corporation, or LLC taxed as an S Corporation will...
  3. M

    Foreign LLC's Owned By CA Resident

    Hi, Your nexus for taxes is Indiana, not California in this case. There's no obligation to register to do business in California in this instance. However what typically happens is you take your shiny new LLC paperwork down to your local bank to open an account and hit a roadblock when the CA...
  4. M

    Copyright on lyrics

    Hi, Generally (very generally) speaking, when you incorporate someone else's work into a product, there is a question of permission if it's for resale. If I paint a skateboard for myself and use copyrighted characters, like Spider Man, in my design it's not a problem - as long as it's for me...
  5. M

    Business structures and Canada - Q for Diane and others

    Hi there, Unfortunately, my homelanders are not quite as diversified as here in the U.S. ... you're pretty much stuck with a corporation. You can choose a provincial incorporation, which qualifies you to do business in a single province, or you can choose a federal incorporation ... which...
  6. M

    My first time filing taxes for sole prop LLC!

    That's the cool thing about CPAs ... if they're good, it doesn't always matter where you are. I am based in Nevada and my CPA is in Dallas! She rocks - she saves me money EVERY year. Drop me a line at megan@taxloopholes.com with your email, etc., and I'll get you on your way. Megan H
  7. M

    Thoughts on Delaware Series LLC

    Chiming in here - the only states that recognize Series LLCs are Delaware, Ilinois, Iowa, Nevada, Oklahoma, Tennessee and Utah. So if you had a cell holding property in Kansas or something, and it got sued, the argument would be that Kansas would treat your whole LLC as one entity - meaning all...
  8. M

    My first time filing taxes for sole prop LLC!

    Hi RSant, The problem that I see here is that you haven't started operating yet. The way the IRS looks at it, you only get to start taking those deductions when you actually open the business's doors, so to speak. Hopefully Diane (Kennedy) will weigh in here, as the resident CPA/Tax...
  9. M

    INTRO You're from where??

    Hey, I've been there! My ex is from Colwyn Bay and when I lived in the UK we used to spend plenty of time in North Wales. I can still say it ... slowly, and probably with an accent bad enough to make a Welshman cry :) Croeso, Jason! Megan H
  10. M

    Biggest Lesson From 2007

    I learned that sometimes, no matter how much money is involved, it isn't enough to offset the negatives. I got really clear on what's important to me, and why. Megan :thumbsup:
  11. M

    End of year tax strategies

    Hi, Here are 2 things I can think of: 1. Is your S Corp up to date in its Secretary of State filings? 2. Do you have an outside Resident Agent, and are you current with them? As a resident agent business, this is the time of year I prepare a list of all clients who haven't paid their...
  12. M

    To keep track of gas mileage or not, that tis the question.

    Just chiming in ... I keep a tiny notebook in my car(s) to track mileage. I've trained myself to write in it as soon as I get back into the driveway from a trip. It beats trying to resurrect it at a later date. The IRS looks at that, too - I've seen cases where they cross-examined a mileage log...
  13. M

    AMT repeal. Lower corporate tax rates.

    Re: AMT Update 12-5-07 Hi, Here's the text of a news release that hit my inbox this morning. I gave Diane a head's up and she has (or will be) posting more in her blog about it. Now is it just me, or does "invoking cloture" sound more like he's doing something with clotted cream and tea...
  14. M

    REAL ESTATE Land Trust

    Hi Shawn, If you are using an IL land trust, then the property will be titled in the name of the Trustee. So theoretically, the bills could be in the Trustee's name, too. It might cost more though - depends on who your Trustee is and what the scope of your agreement is. Have you run this...
  15. M

    Introduction from Megan H

    Hi ... I joined this forum today at the urging of a friend and business colleague. By way of background, I was an active paralegal for close to 20 years, working in most areas of the law in Canada, England and the U.S. For the past 7-8 years I specialized in corporate and securities law in...
  16. M

    INTRO You're from where??

    Hi, Megan from Reno, Nevada, formerly from Vancouver, Canada. As for "what it's known for" ... c'mon kids, it's Nevada. Use your imagination.

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